TAIPED to alter privatization schedule
The government-appointed fund in charge of privatizations (TAIPED) will present a new plan of privatizations to the troika representatives, in light of the recent failure to sell DEPA, the insecurity around DESFA and the possibility of problems arising in the recent OPAP sale.
According to “Ta Nea”, the new plans include the privatization of OLP as a main goal. While there are many different opinions on the subject, it is thought this moved could reduce the 2.6 billion euro deficit created by the failure to sell DEPA. The plan also includes a fast-track privatization of water company EYDAP in autumn, which is expected to cause controversy, as well as electricity network ADMIE.
TAIPED has also approached Canadian fund PSP, which recently bought 26.7 of Hochtief Airports and along with it its share of the Athens International Airport. It is unclear if PSP Investments is interested of selling on its share. The troika representatives will also be updated on the new competition for DEPA in autumn, along with the Ministry of Environment’s measures to rectify the imbalances in the energy market.
In order to expedite the privatization of Greek Petroleum (ELPE), Socar will first have to purchase a 66% share of DESFA. Unfortunately Socar’s offer was far bellow expectations, rumored to be less than 350 million euros. Despite Socar’s optimism, there is still a great distance to DESFA’s 66% share estimated value of 400 million euros.
The troika also appears to be concerned about the upcoming sale of the 33% share of OPAP to the Emma Delta joint venture, which has been agreed upon, but not complete. Emma Delta has threatened the current OPAP administration’s terms on lottery tickets, over the veto right reserved by Intralot and Scientific Games as suppliers. TAIPED on its behalf argues that Emma Delta was aware of this before making the offer.